GAZ-SYSTEM of Poland said it has signed a declaration for cooperation with the Croatian gas transmission system operator Plinacro in the scope of support for the development of the gas market in Central and Eastern Europe.
The purpose of the agreement is the establishment of cooperation between the partners in projects for the development of the LNG market, the development of underground gas storage and the performance of gas interconnectors within the North-South Gas Corridor, that is a priority issue for the European Union.
The operations of both Companies are part of the European Union policy for integrating the transmission system in Europe and ensuring transmission of gas through developed cross-border interconnectors.
Plinacro is the owner of 50% of the shares of the LNG Hrvatska project and is planning to build a terminal with re-gasification capacities of 4-6 bcm of gas annually. The investment decision concerning this will be undertaken by the Company by the end of 2013. The start-up of the Hrvatska LNG Terminal could take place in 2016-2017.
In 2011, Plinacro, together with the Hungarian operator FGSZ Zrt, built a 294 km interconnector with a capacity of 6.5 bcm annually that will enable the transport of gas from the LNG terminal in Croatia to Hungary and to other countries in the region.
Both, GAZ-SYSTEM, which is performing the development of cross-border interconnectors and is the owner of 100% of the shares in the Polskie LNG Company responsible for the construction of the LNG terminal in Poland, as well as the Croatian Company Plinacro are looking for new business opportunities in the scope of the optimal use of the integrated transmission system in the Central and Eastern Europe region, including re-gasification capacities of both the LNG terminals.
[mappress] LNG World News Staff, September 13, 2012; Image: Polskie LNG